Comment Text:
i0-001
COMMENT
CL-05017
From:
Sent:
To:
Subject:
Daryl Elliott
Thursday, February 4, 2010 5:33 PM
secretary
Regulation of Retail Forex
CFTC
Three Lafayette Centre
1155 21 st Street, NW
Washington, DC 20581
Secretary Stawick
Dear Secretary Stawick,
I have 6 years of forex trading experience and have just learned from FXCM that you are considering
lowering the leverage ratio to 10:1. Forex trading is not the same as stock trading and it should be
regulated very differently. To change the leverage ratio to a maximum of 10:1 would be a colossal error
in my opinion. Such an action would devastate the American forex brokerage business and it would
have no impact on American traders as we would just move our accounts offshore.
Please do not execute this ill-advised plan.
Sincerely,
Daryl Elliott
